Comcast Corporation (NASDAQ:CMCSA) CEO Brian Roberts Tuesday made several positive comments while presenting at an investor conference, according to BofA Securities.
The Comcast Analyst: Jessica Reif Ehrlich maintained a Buy rating on Comcast with an unchanged $53 price target.
The Comcast Takeaways: Comcast's share gains in high-speed data may continue for several years, Reif Ehrlich said in a Wednesday note.
The analyst named 10 positive data points presented by the Comcast CEO:
- Third-quarter broadband net adds will exceed 500,000, which would represent the best quarter ever.
- 2020 broadband net adds are set to greatly exceed 2019 net adds of 1.4 million.
- Trends are improving in both revenue and sub growth for Comcast's business services.
- Cable EBITDA growth in the third quarter will be “substantially better” than in the first and second quarters.
- The company continues to realize expense efficiencies.
- Comcast is showing strong margin expansion.
- Peacock sign-ups have jumped to 15 million, and it is the second most-watched app on Flex.
- Comcast will use its wireless network to supplement its MVNO in high-traffic areas.
- A significant restructuring at NBCU will drive reduced costs.
- TV and film production has returned, and the NBC fall season launches in November.
CMCSA Price Action: Shares of Comcast were trading 1.13% higher at $46.98 at last check Wednesday.